Novo Nordisk to replace the CEO after losing the edges in slimming drugs

Novo Nordisk will replace its general director, Lars Fruergaard Jorgensen, companies Friday was announcedReferring to a edged decrease in the stock price, which resulted from increased competition with a popular weighing medicine.

The Danish drug manufacturer said he was looking for a novel chief director who soon replaced Mr. Jorgensen, who was led by Novo Nordisk for eight years.

This movement reflects the extraordinary decrease in fortune for the creator of one of the most renowned drugs in the world, which is sold as ozempic for diabetes and weegova for obesity. Last year, the company’s shares fell by 50 percent.

The sale of this drug has created a time of boom for Novo Nordisk. In 2023, the company’s extraordinary success Raised Danish central bank to keep interest rates lower than differently. For over a year, the market value of Novo Nordisk has exceeded the entire domestic product of Denmark.

But investors weakened the company because it faced increasingly fierce competition. Lower versions of slimming drugs made in the process known as mixing led to the sale of Novo Nordisk. Competition from Ela Lilly, a drug manufacturer sold as Mounjaro and Zepbound, is even more harmful.

Novo Nordisk had the most critical start, gaining permission to sell his medicine for obesity over two years before Eli Lilly. But Novo Nordisk quickly loses market share with the competition: American patients have completed more prescriptions on Zepbound this year than for Wegova, and the gap is expanding, according to the IQVIA data provider.

Eli Lilly also develops novel slimming drugs, including a daily pill, which is to create years of hit sales for the company. Novo Nordisk has a more hooking path forward.